GOFPY (Allwyn AG) Beneish M-Score: 10.36 (As of Jun. 25, 2026)


GOFPY Allwyn AG GOFPY
77 GF Score
Price $7.79
GF Value $11.22
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Allwyn AG Beneish M-Score?

Allwyn AG GOFPY +0.13% 77 Beneish M-Score is 10.36 as of Jun. 25, 2026. GuruFocus rates GOFPY with a GF Score™ of 77/100 and a GF Value™ of $11.22 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 824 Travel & Leisure companies, Allwyn AG ranks worse than 98.79% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 10.36 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Allwyn AG's Beneish M-Score or its related term are showing as below:

GOFPY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.27   Med: -2.67   Max: 10.36
Current: 10.36

During the past 13 years, the highest Beneish M-Score of Allwyn AG was 10.36. The lowest was -3.27. And the median was -2.67.


Allwyn AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Allwyn AG's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Allwyn AG Beneish M-Score Chart

Allwyn AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.79 -2.49 -2.72 -3.20 -3.09

Allwyn AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.24 -3.27 -3.05 -3.09 10.36

GOFPY vs FLUT, DKNG, LNWO: Beneish M-Score Comparison

For the Gambling subindustry, Allwyn AG's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Allwyn AG Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Allwyn AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Allwyn AG's Beneish M-Score falls into.


GOFPY
77GF Score
Allwyn AG GOFPY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Allwyn AG Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Allwyn AG for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 14.4561+0.528 * 0.9612+0.404 * 1.2981+0.892 * 1.1588+0.115 * 3.3079
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2006+4.679 * -0.013377-0.327 * 1.0293
=10.30

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $1,262 Mil.
Revenue was 551.445 + 521.834 + 481.141 + 441.656 = $1,996 Mil.
Gross Profit was 261.272 + 323.612 + 295.029 + 330.534 = $1,210 Mil.
Total Current Assets was $4,205 Mil.
Total Assets was $22,813 Mil.
Property, Plant and Equipment(Net PPE) was $642 Mil.
Depreciation, Depletion and Amortization(DDA) was $169 Mil.
Selling, General, & Admin. Expense(SGA) was $323 Mil.
Total Current Liabilities was $4,351 Mil.
Long-Term Debt & Capital Lease Obligation was $8,791 Mil.
Net Income was 126.012 + 143.047 + 150.062 + 127.338 = $546 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 228.902 + 228.512 + 227.151 + 167.061 = $852 Mil.
Total Receivables was $75 Mil.
Revenue was 437.838 + 463.961 + 429.336 + 391.433 = $1,723 Mil.
Gross Profit was 211.892 + 287.609 + 266.067 + 238.513 = $1,004 Mil.
Total Current Assets was $826 Mil.
Total Assets was $2,269 Mil.
Property, Plant and Equipment(Net PPE) was $66 Mil.
Depreciation, Depletion and Amortization(DDA) was $147 Mil.
Selling, General, & Admin. Expense(SGA) was $232 Mil.
Total Current Liabilities was $861 Mil.
Long-Term Debt & Capital Lease Obligation was $409 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(1262.428 / 1996.076) / (75.363 / 1722.568)
=0.632455 / 0.04375
=14.4561

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(1004.081 / 1722.568) / (1210.447 / 1996.076)
=0.582898 / 0.606413
=0.9612

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (4204.624 + 641.618) / 22812.717) / (1 - (826.223 + 66.191) / 2269.082)
=0.787564 / 0.606707
=1.2981

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=1996.076 / 1722.568
=1.1588

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(146.824 / (146.824 + 66.191)) / (168.881 / (168.881 + 641.618))
=0.689266 / 0.208367
=3.3079

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(323.136 / 1996.076) / (232.264 / 1722.568)
=0.161886 / 0.134836
=1.2006

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((8790.751 + 4351.445) / 22812.717) / ((409.384 + 860.606) / 2269.082)
=0.576091 / 0.559693
=1.0293

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(546.459 - 0 - 851.626) / 22812.717
=-0.013377

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Allwyn AG has a M-score of 10.30 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 10.36 mean?
Allwyn AG (GOFPY) has a Beneish M-Score of 10.36 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Allwyn AG and its competitors. According to the industry distribution chart, Allwyn AG ranks #814 out of 824 companies in the Travel & Leisure industry, placing it in the top 98.8%.
Is Allwyn AG's Beneish M-Score too high?
Allwyn AG's current Beneish M-Score is 10.36. Based on the distribution chart, Allwyn AG ranks #814 out of 824 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Allwyn AG has a GF Score™ of 77/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Allwyn AG's Beneish M-Score compare to FLUT and DKNG?
According to the Travel & Leisure industry distribution chart, Allwyn AG ranks #814 out of 824 companies for Beneish M-Score. This places Allwyn AG in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Allwyn AG and its competitors. Allwyn AG's current Beneish M-Score is 10.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Allwyn AG stock overvalued right now?
Based on GuruFocus' analysis, Allwyn AG (GOFPY) is currently considered Possible Value Trap. The stock's GF Value™ is $11.22, compared to a current price of $7.79 — trading 30.6% below its estimated fair value. The current Beneish M-Score is 10.36. Allwyn AG's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Allwyn AG (GOFPY), the current Beneish M-Score is 10.36 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Allwyn AG (GOFPY) Overvalued in 2026?

Based on GuruFocus' analysis, Allwyn AG stock appears to be undervalued. The current stock price of $7.79 is trading 30.6% below its estimated GF Value™ of $11.22. GuruFocus considers Allwyn AG to be Possible Value Trap.

Key valuation signals for GOFPY:

  • Beneish M-Score: 10.36
  • GF Value™: $11.22 vs. price of $7.79 (30.6% below fair value)
  • GF Score™: 77/100 with 5 warning signs

No single metric tells the full story. See the GOFPY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Allwyn AG Business Description

Address 112 Athinon Avenue, Attica, Athens, GRC, 104 42
Allwyn AG, formerly known as OPAP Holding SA, is a gambling company that operates lotteries and sports betting, including horse races. The company is the exclusive gambling provider in Greece. The firm is organized into segments based on the type of game: Lotteries, Betting, Online betting, Other online games, Instant and Passives, VLTs, Telecommunication and eMoney services. It generates the majority of its revenue from the Lotteries segment. The gaming services are provided either online or through physical retailers. The company generates the vast majority of its revenue in Greece.
77GF Score

Get the complete analysis for GOFPY

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.79
Price
$11.22
GF Value